Reuters US Business

By Valerie Insinna WASHINGTON (Reuters) – Boeing Co is deploying experienced pilots to airlines that are training their employees to fly Boeing aircraft, as part of a wider push to reduce aviation safety risks after two 737 MAX crashes in 2018 and 2019. In 2022, a total of 125 so-called “flight operations representatives” worked with …

Boeing looks to embed experienced pilots with new airline customers Read More »

By Fergal Smith (Reuters) – Canada’s main stock market fell to its lowest closing level in nearly two months on Wednesday as two major banks reported quarterly earnings that missed analysts’ estimates and U.S. debt deal uncertainty weighed on investor sentiment. The Toronto Stock Exchange’s S&P/TSX composite index ended down 218.32 points, or 1.1%, at …

Bank earnings drag Toronto market to eight-week low Read More »

(Reuters) -The U.S. Federal Trade Commission (FTC) is probing whether Abbott Laboratories and other companies that make baby formula colluded in bidding on state contracts, according to a document posted on the agency’s website. The FTC is looking into whether the companies “engaged in collusion or coordination with any other market participant regarding the bidding,” …

Abbott, baby formula makers face FTC probe for potential collusion Read More »

By Chavi Mehta and Stephen Nellis (Reuters) -Nvidia Corp on Wednesday forecast second-quarter revenue more than 50% above Wall Street estimates, with the company saying it is boosting supply to meet surging demand for its artificial-intelligence chips, which are used to power ChatGPT and many similar services. Shares of Nvidia, the world’s most valuable listed …

Nvidia shares surge 21% as sales forecast jumps and AI booms Read More »

By Dietrich Knauth (Reuters) – Telecommunications and power contractor QualTek Services Inc filed for bankruptcy on Wednesday, armed with a restructuring deal that could slash $307 million of the company’s $625 million debt. QualTek filed for Chapter 11 protection in Houston, saying that increasing debt costs were beginning to cut into its operating budget, at …

Telecom servicer QualTek enters bankruptcy to cut $307 million debt Read More »

(Reuters) -American Eagle Outfitters Inc cut its full-year revenue forecast on Wednesday, as apparel demand wavers due to still-high inflation, sending shares of the company down 15% after the bell. Higher rent and product prices in the United States dented consumer spending, hurting demand for discretionary items as cash-strapped shoppers focused on essentials such as …

American Eagle cuts annual revenue forecast on weak apparel demand Read More »

By Luc Cohen NEW YORK (Reuters) – A top U.S. regulator said on Tuesday there is no way to police all cryptocurrency fraud because there is so much, though her agency is working on several big cases. Christy Goldsmith Romero, one of five commissioners at the Commodity Futures Trading Commission (CFTC), said cryptocurrency cases account …

No way to police all cryptocurrency fraud, CFTC commissioner says Read More »

MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador’s administration is studying the possibility of buying a majority of shares in Citigroup’s local retail unit known as Banamex, according to a government statement published on Tuesday. Buying it would be “good business,” Lopez Obrador said in a press conference earlier, when asked about rumors …

Mexico government open to buying Citigroup’s Banamex Read More »